City of Toronto Expands Latin American Business Opportunities Through Agreements with Mexico City and LatAm Startups

Posted February 22, 2018

The City of Toronto has entered into two new business relationships that will help create opportunities for companies in Toronto, Mexico and throughout Latin America.

Today in Mexico City, the City of Toronto and Mexico City signed a Memorandum of Understanding (MOU) that establishes the intention to collaborate in trade, environment, life sciences, information technology, culture, tourism and education among other sectors, while encouraging trade and investment exchanges between both jurisdictions.

“Toronto is pleased to begin this new business partnership with Mexico City that will capitalize on and enhance the multi-sector strengths we both have as the largest business centres in our respective countries,” said Councillor Michael Thompson (Ward 37 Scarborough Centre), Chair of the City’s Economic Development Committee.

In Toronto, an MOU was also finalized today between the City and LatAm Startups, with the aim of supporting LatAm’s success in bringing Latin American tech startups to the city.

“LatAM Startups is doing tremendous work with Mexican and Latin American companies in Toronto and the City is now better positioned to support their efforts through our MOU with them and with public and private business entities throughout Latin America,” said Councillor Thompson.

In 2018, LatAm Startups aims to bring 20 tech companies from various Latin American countries to be part of its program which supports their market entry for three months. The 2018 program will have two cohorts and four boot camps in the city looking for the best Latin American tech companies to go global from Toronto.

“Since 2014, LatAm Startups has worked to help Latin American startups scale globally from Toronto,” said Miryam Lazarte, co-founder and CEO of LatAm Startups. “Toronto and Mexico City are a great match to grow bilateral trade between these two great cities, and we look forward to working closely with the City of Toronto to make this partnership a success.”

LatAm Startups is a not-for-profit accelerator that brings the best startups from Latin America to Toronto and scales them globally. The fifth LatAm Startups Conference will be held at MaRS in Toronto on May 29, bringing together investors, public policy experts, and startups from across Canada and Latin America. More information is available at
latamstartups.org.

Since 2015, the City of Toronto has broadened its business profile throughout Latin America. Toronto has signed MOUs with COMCE Noreste (Monterrey, Mexico) and Uruguay XXI, the investment and export promotion agency of Uruguay, and created stronger business relationships with Brazil’s two largest economic areas by becoming a Partner City with Rio de Janeiro and by signing an MOU with Investe São Paulo.